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Mar 24, 2013 11:25am EDT
technology has created in lots of industries, you would expect financial services to be somewhat bigger. i do not know the answer to the question. i think my predecessor's claim that the only contribution to the financial industry is the automatic teller machine might be a little exaggerated. i know some people have that view. again, i do not know the answer. the somewhat bigger financial sector can be justified by the wider range of services and a more -- >> hi, i am jeremy dodge and. i have a follow-up question on cyprus. i am a central banker. do think it was appropriate or fair to impose a levy on every bank deposit in cyprus, even those insured by the european union? >> i have not been involved in those conversations. i do not necessarily know of the details. i know they are grappling with the difficult problem. i think the issue they face is that there is a big financial hole in the sense there is a fiscal issue and a bank recapitalization issue. they're looking for resources where they can find them. i think everybody understands there are certain risks with that, besides the equity is
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